Micro Business Law and Legal Definition
Micro business is a very small business, smallest of all businesses. The majority of micro business companies are one-person enterprises. Moreover, these companies operate out of owner’s homes or a small executive suite office; and many of these companies have part-time help from a family member or friends. Micro business are conducted by trades people, professionals, doctors, designers, artists, writers, consultants, inventors, technicians, craftsmen, manufacturers, or workers from a variety of other disciplines. Micro business is often exempt from worker’s compensation, liability insurance, and certain professional licensing. Majority of these companies are not operating in this model to become rich, but rather to enjoy a superior level of autonomy and freedom that is typically unavailable to an employee.
Legal Definition list
Related Legal Terms
- Affected Item of Business
- Affiliated Business Arrangement
- Agribusiness
- Alternative Fuels Business
- Awarding Agency [Business Credit and Assistance]
- Base Closure Area [Small Business Administration]
- Better Business Bureaus
- Bill of Sale (Business)
- Branch or Additional Business Facility [Agricultural Marketing Service]
- Bureau of Economic, Energy, and Business Affairs [EEB] [Department of State]
